Huasun Energy, China-based developer of HJT solar products, has raised more than RMB2 billion (over USD$275,600,000) in its Series C funding. The lead investor is China Green Development Investment Group (China Green Development), with co-investments from Bank of China Asset Management Co., Ltd. (Bank of China Asset) and China Post Insurance Company Limited (China Post Insurance). Originvest and China Xinxing Asset Management Co., Ltd. (China Xinxing Asset) also increased their investment in this round.
The funding will be used to further expand the production of Huasun's high-efficiency heterojunction (HJT) products and to support the R&D of cutting-edge technologies, including heterojunction-perovskite tandem solar cells.
Jimmy Xu, Chairman of Huasun Energy, explained that Huasun is committed to advancing the industrialization and commercialization of HJT products in 2023, positioning itself as a unicorn in the HJT industry. In September, Huasun achieved overall operational profitability, marking the success of its industrialization and commercialization practices. Huasun also set a global efficiency record for HJT solar modules, reaching 750.54W. By the end of 2023, Huasun aims to have an approximate 20GW capacity.